Fair Labor Association prohibits sourcing in Xinjiang
“Given the high risk of forced labor, the overwhelming evidence of human rights abuses, and the multiple layers of government sanctions, the FLA is prohibiting sourcing and production (including direct and indirect sourcing of raw materials, inputs, or finished products) from Xinjiang.”
[Fair Labor Association]
Pan-EU supply chains hit by Brexit trade deal
“Industry bodies on both sides of the Channel have warned that the so-called ‘rules of origin’ chapter of the deal effectively blocks existing supply chains, and have urgently raised the issue with both the UK government and the European Commission.”
[Financial Times]
New law cracks down on shell companies to combat corruption
“For the first time, shell companies will be required to provide the names of their owners or face stiff penalties and jail sentences. The information will be stored in a confidential database accessible to federal law enforcement and shared with banks who are often unwitting accomplices to international corruption.”
[Associated Press]
African free trade bloc opens for business, but challenges remain
“Backers say it will boost trade among African neighbours while allowing the continent to develop its own value chains. The World Bank estimates it could lift tens of millions out of poverty by 2035. But obstacles - ranging from ubiquitous red tape and poor infrastructure to the entrenched protectionism of some of its members - must be overcome if the bloc is to reach its full potential.”
[Reuters]
WTO: India frequently changing tariffs creates trade uncertainties
“India’s frequent changes in tariff rates and use of other trade policy instruments such as export tariffs and minimum import prices, to manage demand and supply and protect its economy, create uncertainty for traders, the World Trade Organization (WTO) Secretariat has observed in its latest trade policy review of India.”
[Hindu Business Line]
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